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        <td width="155"><div align="left"><a href="http://www.teleread.org/ News &amp; views on e-books, libraries, publishing and related topic" target="_blank"><strong style="font-size: 12px; color: #4D4D4D;"><u>Other Resources</u></strong></a><br />
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                      eBOOKS AT THE CROSSROADS: WHICH WAY FORWARD? <br />
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                    <h5>As expected, Barnes &amp; Noble announced its Nook device, featuring a touch-screen LCD panel and in-store browsing and sharing capabilities that are hoped to augment, rather than replace, the bricks and mortar bookstore experience. Through its Editions offering, Google will open much of its scanned book warehouse, soon to become the biggest digital content repository, to all browser-enabled devices. Betting against the knowledge and resources of both Apple and Microsoft has proven unwise in the past. It is believed that both companies are developing multi- media tablets; meanwhile the iPhone, through applications such as Stanza and iKindle, as well as direct browsing, has become a leading eBook reading device.</h5>
                    <h4><strong>Value Proposition and Impact on the Publishing Model</strong><br />
                    </h4>
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                    <h5>eBooks offer consumers the many conveniences of media digitization, such as portability and transferability, and eInk eReaders offer excellent letter clarity on a glare-free screen. eReaders are light, durable, energy efficient and they possess large storage capacities, ideal for the enormous amount of free and inexpensive available material. These features offer an experience that many consider superior, but also pricey, for both purchasers of new devices and the main players in the eBook market.<br />
                      <br />
In addition to its significant start-up costs, Amazon currently pays publishers approximately $13 for a bestseller, regardless of whether the bestseller is a costly print book or an eBook. Kindle versions, however, are sold to customers for $9.99. This scenario poses a major problem, according to the head of one of the major publishing houses. “Right now the entire economic model for book publishing...is in jeopardy from this low pricing,” he said. There is increasing concern among publishers that Amazon, for example, may eventually refuse to discount Kindle editions, which will force publishers to lower prices for digital editions.<br />
<br />
In this publisher's view, lower digital prices will pressure publishers to increase royalty rates, despite the fact that “there are no margins to do so.” Another option would be for publishers to lower advances, which would enrage authors and agents, who are not content with the current split of eBook sales. Publishers could be caught between authors, who want large advances, and consumers, who believe they should pay less for a digital edition.<br />
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Publishers must address the changing pricing model and take action to minimize their potential exposure to major market shifts, while reducing current and future operating costs. Perceptive publishers recognize that the pace, momentum and magnitude of recent developments in the eBook market signal a pivotal phase in the delivery of written content. They are at a crossroads in the eBook market, with the majority of publishers considering one of three options. <br />
<br />
<strong>eBooks at the Crossroads: Three Paths<br />
<br />
Advantages and Disadvantages of Direct Partnership</strong><br />
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Direct partnership with platform providers offers several advantages. It enables publishers and information services companies to get their eBooks to potential customers speedily. The platforms will convert a publisher’s downstream data into their respective eBook formats and post the product. Publishers will need to supply the related marketing information, but can then wait patiently for their royalty checks. The allure of this option is working with established players and their secure customer bases. The established process already in place helps speed time-to-market. Amazon and Sony have proven themselves to be innovative and in the forefront of eBook development. When entering a volatile and uncertain space, there is a feeling of security in pairing with a heavyweight.<br />
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There are, however, disadvantages to direct partnership. It is cumbersome to work with multiple platforms simultaneously, each with its own specifications, and many more platforms are likely to emerge. While it is possible to send copies of the same PDF to five platforms (for example), each will have its own particular processes and collateral requirements for posting the eBook. Following each set of procedures and adequately tracking them can become complicated, especially if the platform encounters conversion problems and requires the publisher to take action.<br />
<br />
New eReader features will continue to broaden the market. Greater functionality and interactivity will require changes to enrich internal mark-up and metadata, which further complicates the task of content management for publishers that are interfacing directly with multiple platforms and meeting their requirements. With richer upstream data requirements to support future functionality, publishers may need to create and distribute multiple “blends” of data to support and optimize the reading experience on each platform’s eReaders. Platforms may continue to take downstream print files and manipulate them to meet new feature requirements, but this process will be error-prone.<br />
Publishers and information services companies will have to keep a close eye on each platform. For instance, what if a certain platform under-serves a publisher’s content and takes sales from a more profitable platform? Publishers that choose this route will have to monitor technological and DRM developments constantly to determine which platform will best optimize their content for additional monetization potential.</h5> 
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